ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 29, 2016 16:32:56 GMT
That is a very detailed report on current progress, and shows that Ablrate will not be pussy-footing about (like we have witnessed on certain other platforms) with obstructive and uncooperative borrowers who decide they cannot/will not repay their loans, and will not give full assistance towards re-scheduling them. I've seen no comment anywhere regarding the status of the 5 year fixed term 15% loan, which is connected to this borrower. I avoided that because of no repayments until the end of the five years. Wondering the same myself. Though I think he was only an adviser, no sign of it amongst his positions on CH (nor of the company itself) Ideally it could buy our containers but that might be a conflict of interest for Andy
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baldpate
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Post by baldpate on Jul 29, 2016 16:34:53 GMT
Just read the email - well done, Ablrate! Now that's what I call rapid and decisive enforcement action. As alanp says, other platforms could take a lesson from this.
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hazellend
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Post by hazellend on Jul 29, 2016 16:46:18 GMT
Just read the email - well done, Ablrate! Now that's what I call rapid and decisive enforcement action. As alanp says, other platforms could take a lesson from this. very pleased with the update. Even if we get nothing back it shows how professional ablrate are. Good thing too because I have quite a large amount invested with them!
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mickj
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Post by mickj on Jul 29, 2016 16:47:37 GMT
As above, well done Ablrate and thanks for keeping us informed as and when you can.
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daveb4
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Post by daveb4 on Jul 29, 2016 16:53:19 GMT
Excellent email Ablrate and work undertaken, as mentioned this is what we like to see when it comes to trying to protect lenders interests. Going that one step further than the competition.
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Post by maverick on Jul 29, 2016 16:57:59 GMT
Just read the email - well done, Ablrate! Now that's what I call rapid and decisive enforcement action. As alanp says, other platforms could take a lesson from this. very pleased with the update. Even if we get nothing back it shows how professional ablrate are. Good thing too because I have quite a large amount invested with them! If I don't receive at least 90% of my capital, I will be pulling my investments.
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baz657
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Post by baz657 on Jul 29, 2016 17:22:28 GMT
If I don't receive at least 90% of my capital, I will be pulling my investments. Perhaps P2P lending isn't for you if that's your attitude. Have you considered that premium bonds would be safer?
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hazellend
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Post by hazellend on Jul 29, 2016 17:30:06 GMT
very pleased with the update. Even if we get nothing back it shows how professional ablrate are. Good thing too because I have quite a large amount invested with them! If I don't receive at least 90% of my capital, I will be pulling my investments. Why?
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Post by ablrateandy on Jul 29, 2016 18:45:29 GMT
Re the five year loan I am happy to field DMs or emails. There are other factors that I won't/can't discuss online save to say that I saw no reason not to draw down the last tranche yesterday.
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pom
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Post by pom on Jul 29, 2016 18:49:00 GMT
Re the five year loan I am happy to field DMs or emails. There are other factors that I won't/can't discuss online save to say that I saw no reason not to draw down the last tranche yesterday. And based on what you told us, I was completely confident to cough up for yesterday's tranche
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 29, 2016 19:12:05 GMT
Re the five year loan I am happy to field DMs or emails. There are other factors that I won't/can't discuss online save to say that I saw no reason not to draw down the last tranche yesterday. Will this loan be available on the SM now?
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Post by ablrateandy on Jul 29, 2016 19:13:50 GMT
At some point shortly yes. As you can imagine at the moment though it is in a queue of container-related jobs!
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james
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Post by james on Jul 29, 2016 19:58:49 GMT
shows that Ablrate will not be pussy-footing about Yes, the approach taken here is pretty much the complete opposite of anything that could be called pussy-footing around. The initial legal action does explain why Ablrate didn't go into detail initially, since it would have been very inappropriate to do anything that might have alerted the borrower to that step before it got to the judge.
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jonah
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Post by jonah on Jul 29, 2016 20:33:26 GMT
As an interested party I admit to liking the response from Abl on this. Loans will go wrong, that is why we get 13% interest. The communications and actions so far seem structured and organised. Obviously I want to see the final numbers, but as this is by far my largest impaired loan(s) I am so far not having sleepless nights over it.
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Steerpike
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Post by Steerpike on Jul 30, 2016 16:58:21 GMT
I haven't received this email and I got the text of the previous email only as a result of me requesting it although it seems that I always receive notification of new loans.
I have only a modest investment in this loan however I do not feel inclined to invest further on this platform when communications are so unreliable.
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